Q: What value loss to the real estate with the advent of a sink hole. The physical aspects “may be” cured, however there is a stigma placed on the property. So what is the value loss and what is the responsibility of the Insurance company to cure the loss. It is undeniable that once a [...]
Nov
16
2011
16
2011
Oct
7
2011
7
2011
A house built on trash?
You have to feel sorry for Brian Dyer and his family. Brian decided he wanted to build a pool for his kids. When excavation began to dig the pool they found trash, everywhere. They found washing machine tubs, electronics, tires and other household trash, all buried within four feet of the surface. He hired a [...]
Sep
23
2011
23
2011
Can a mortgage holder force a homeowner to purchase sinkhole coverage?
This is an excellent question that I am not sure has a clear cut answer. We do know that virtually in every case your lender for a mortgage can require insurance on the property. If a homeowner fails to secure insurance, the bank can apply what we call a force place policy. This is when [...]
Apr
11
2011
11
2011
When buying a sinkhole repaired home, ensure you can insure before closing
Q: We are looking at purchasing a home that has had sinkhole remediation. According to the seller the house is not insurable due to the claim the previous owner took for the sinkhole repairs. It shows on the tax records that the repairs were $30,000 and the house is worth more then this. So I’m [...]
Mar
4
2011
4
2011
What will Bill 408 mean for Florida’s real estate market?
One issue that seems to get continually overlooked in this whole debate over Bill 408 is what affect will this new law have on the housing market? We predict a horrible outcome and foreclosure spikes. There are several serious concerns that arise. Bill 408 tries to accomplish two goals: 1) limit, decrease or altogether prevent [...]
Oct
19
2010
19
2010
Realtor? Meet Sinkholes. Sinkhole? Meet Realtors.
We are very pleased with the enormous response we had recently to our efforts to reach out to realtors, real estate brokers, and others in the real estate field regarding our resources as Sinkholedamageblog.com. In the past week, we have been flooded with inquiries regarding the various issues realtors have to resolve in handling homes [...]
Sep
29
2010
29
2010
Sinkhole Damage Grants
County commissioners in Hillsborough County recently voted to provide grants for Hillsborough County residents who were affected by sinkhole activity during the winter freeze of this past year. The grants may be worth up to $3,000 per individual homeowner. Though the sinkhole grant program is aimed at the freeze event causing sinkhole activity in Dover [...]
Sep
27
2010
27
2010
Wall Street Journal’s Two Cents on Florida’s Sinkhole Issues
As Florida”™s sinkhole issues continue to become national news, the Wall Street Journal recently decided to get into the fray. Unfortunately, the article had a very pro-insurance slant and went out of its way to place those fighting for homeowners in a very negative light. The article focuses on public adjusters here in Florida and [...]
Sep
20
2010
20
2010
Plant City Sinkhole Debate Rages On
In a story we have been following and actively involved in for about a year now, the Plant City sinkhole debate rages on. To recap the previous controversy, over a hundred sinkholes appeared during a very short period of time over the winter this year. The numbers in the article state that 140 sinkholes appeared and [...]
Sep
1
2010
1
2010
Ocala Sinkhole Swarm
In a turn of events that is almost reminiscent of Plant City sinkholes earlier this year, Ocala is seemingly under attack by sinkhole activity. Again and again we have talked about the huge breadth of the sinkhole activity in Ocala and now we can see it at the surface. The most publicized sinkhole is near [...]
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